Ascetic Entrepreneurship: How the Christian Work

Harding University
Scholar Works at Harding
Belden Center Monographs The Belden Center for Private Enterprise Education
2015
Ascetic Entrepreneurship: How the Christian Work
Ethic Creates Long-Term Value for Business and Society

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EntreApsrecneetiuc rship How the Christian Work Ethic
Creates Long-Term Value for
Business and Society
A
Commemorative Issue
of
The Entrepreneur
a journal of the
Belden Center for
Private Enterprise Education
Printed by
Harding Press
All rights reserved
Copyright November 2015
Requests for permission to
reproduce this publication should
be addressed in writing as follows:
David Kee
Harding University
Box 10774
Searcy, Arkansas 72149-2245
(501) 279-5102
davidkee@harding.edu
Every mason in the quarry,
every builder on the shore,
Every chopper in the palm grove,
every raftsman at the oar–
Hewing wood and drawing water,
splitting stones and cleaving sod–
All the dusty ranks of labor,
in the regiments of God,
March together toward His triumph,
do the task; His hands prepare.
Honest toil is holy service;
faithful work is praise and prayer.
The Toiling of Felix
Henry Van Dyke, 1897
ASCETIC ENTREPRENEURSHIP
How the Christian Work Ethic Creates
Long-Term Value for Business and Society
TABLE OF CONTENTS
Page
Introduction…………………………………………………. 1
I. Entrepreneurship………………………………….. 3
II. Asceticism…………………………………………… 7
III. The Protestant Ethic …………………………….. 11
IV. Ascetic Entrepreneurship………………………. 15
V. Case Studies ……………………………………… 21
Asa Candler, Coca-Cola ………………………. 22
Hans Wilsdorf, Rolex …………………………… 25
Gottlieb Duttweiler, Migros ……………………. 27
J.W. Marriott, Marriott International ………….30
Sam Walton, Walmart ………………………….. 32
Ingvar Kamprad, IKEA …………………………. 35
Truett Cathy, Chick-Fil-A ……………………… 38
VI. Was Weber Right?……………………………… 45
VII. From the Author …………………………………..51
References ……………………………………………… 53

1
INTRODUCTION
Why would billionaire businessmen drive
15-year-old automobiles, live in small ancestral
family homes, always travel in 2nd class, rarely take
vacations, and work in tiny bare offices for hours
on end while at the same time give away millions
of dollars to help cure diseases, build schools and
churches and save the environment? Why not do
like others who build a 50,000 square foot home,
buy a Gulfstream airplane, a 200-foot yacht, an
island in the Bahamas or the last available Renoir
or Picasso while living it up at social events,
supporting a favorite politician or becoming a reality
television star?
Obviously, we find both types in this world,
but an interesting question is which one of the two
is more likely to add value, create wealth, grow
industries and innovation for the long term, and
do so with honesty and integrity. Common sense
would obviously point to the first one. However, the
prevailing view is that successful capitalists tend to
resemble the latter. The reality might be different.
Because they are not as exciting, the media are
not likely to talk about the first group, history and
economic books to mention them, nor scholars to
study them. Yet, their impact is substantial. In fact,
that is the object of this inquiry.
A second interesting question that many have
asked is how, in human history, the economies of
the world have suddenly grown exponentially to
become the global market of today. Historians and
economists have attempted to answer this question,
but with little consensus. Some point to certain
inventions, some to the enlightenment while others
to democracy or even the banking system.
2
One of the many theories advanced to explain
this unique moment in human history was put
forward by the German sociologist Max Weber. In
1905, he wrote an essay entitled The Protestant
Ethic and the Spirit of Capitalism, in which he
postulated the argument that the root cause of this
expansion of trade and industry was primarily the
advent of Calvinism and followers of this particular
branch of Protestant Christianity.
Weber’s explanation was based on the fact
that these reformed Christians felt called by God to
adopt a work ethic and practice of hard work, thrift,
self-restraint and honesty that dramatically changed
the way business was conducted. Weber described
the entrepreneurial leaders of this movement as
ascetic, similarly to the monastic movements of the
past, yet actively involved in commerce and living
within the world.
Since Weber’s contribution, his Protestant Work
Ethic has been studied, reviewed and critiqued by
thousands of researchers, yet the concept of the
ascetic entrepreneur has interested only a few,
whether it be historians or business scholars. Who
are these ascetic entrepreneurs? Are they still
around? How do they influence entrepreneurship
in particular and business in general?
This monograph attempts to answer these
questions, among others, and to provide further
evidence of the importance of ascetic entrepreneurs
in economies, past and present. To accomplish
this, we will carefully define entrepreneurship and
asceticism, look at some of literature on this concept,
and then illustrate it with seven biographical case
studies of successful ascetic entrepreneurs. In
addition, we will answer the question of whether
Weber’s argument holds water or needs to be
scratched, or will a slight revision suffice?
3
I. Entrepreneurship
The term entrepreneur comes to us from
French, literally the between-taker, but more
accurately one who undertakes. It is not an
undertaker, but rather someone who takes on a
new task. Entrepreneurship is certainly not a new
concept. The entrepreneurial individual has been
around since the very first trade. As a field of study,
entrepreneurship has a long history in the vast field
of economics.
One could go back all the way to the Irish-
French economist, Richard Cantillon, who in 1755
introduced the entrepreneur as the one who brings
about economic change that affects the whole of
society. Shortly thereafter, Jean-Baptiste Say,
another Frenchman, coined the term to point to
an individual who is able to shift lower-yielding
resources to more productive ones. Since these
definitions are very broad, most scholars in the field
have found it necessary, over time, to develop a
more narrow and precise understanding of the term.
At its roots, three leading experts have surfaced
over time to provide agreed-to variations for the term
entrepreneur: Joseph Schumpeter, Frank Knight
and Israel Kirzner. Each has his own slant to the
concept, but generally speaking, there is a common
understanding of what it entails – or more precisely,
most know and can recognize the entrepreneur.
To Austrian economist Joseph
Schumpeter, the entrepreneur was
the innovator whose work caused
what he called creative destruction,
bringing havoc to the present stable
equilibrium. Think of what the
automobile did to the carriage and
blacksmith industries; a creative
innovation that destroyed what had been in place
for hundreds of years. It is not enough, according
to Schumpeter, to just invent, finance or manage
4
something, but the entrepreneur is the one who
efficiently brings a new good or service to market
and effectively creates new wealth in the process.
University of Chicago professor
Frank Knight had a different view.
To him, the entrepreneur is the risktaker,
who is willing to try a new
way of doing things, but is also the
bearer of uncertainty, a player who
is willing to accept the responsibility
of success or failure in this new
venture.
Israel Kirzner of New York
University followed with a new
slant. He viewed the entrepreneur
as the alert discoverer, someone
who before anyone else sees
an unexplored opportunity in the
marketplace and capitalizes on it.
The new enterprise now helps to
satisfy an unexpressed or yet-to-be
expressed demand by customers.
Reconciling these three views into one
overarching definition has been generally
accepted and used by scholars and practitioners.
In fact, theorist Danny Miller identified three
dimensions of entrepreneurial orientation in firms:
innovativeness (Schumpeter), risk-taking (Knight)
and pro-activeness (Kirzner). This construct
has since been studied at length in helping to
determine how entrepreneurial companies can be.
Entrepreneurship therefore is a concept that applies
not just to company founders, but also to individuals
who display these traits in their work – at any level
and in any industry.
This definition is not as generalized as the
common usage of the entrepreneur as simply being
a business owner or manager. The individual must
5
create new wealth in innovative and increasingly
productive ways. This entrepreneur is also different
than an investor or speculator. Schumpeter calls
these people capitalists, because their focus is on
money and not necessarily innovation. For example,
Warren Buffet, who in all aspects is an ascetic, does
not fit the definition of an entrepreneur because his
main focus is to buy and sell companies, not create
them.
Since Weber preceded Schumpeter (1911),
Knight (1921) and Kirzner (1973), it is fair to
assume that he was either using Cantillon’s or
Say’s understanding or his own of what defines an
entrepreneur. Indications are that, more than likely,
his view was aligned with Schumpeter’s, because of
the common language (German) and the prevailing
views of entrepreneurship at the beginning of the
twentieth century.
6
7
II. Asceticism
Asceticism is not a word that is commonly used
in our everyday vernacular. It is therefore important
that it be defined accurately. From the Greek word
askesis, meaning training or exercise, it has come
to be understood as a way of living or lifestyle that
is characterized by self-denial and self-restraint
in terms of worldly pleasures for various spiritual
goals. Asceticism has been associated with the
spiritual exercise of monastic living, whether among
Catholics, Buddhists or Hindus.
Different uses of the word ascetic have
surfaced over the years. The natural ascetic is
one who seeks to subject the animal instinct of
materialism to the spiritual, with a self-discipline
aligned with virtues such as patience, chastity,
temperance and meekness. The motivation for the
natural ascetic is that of self-satisfaction or selfinterest,
and yet, it does not come without a form
of penance and suffering in a physical sense. Many
religions have extended their own understanding of
the natural ascetic to practices that accomplish a
similar function.
The Christian ascetic, however, is subordinating
any self-seeding objectives to those of the will of
God. While cultivating similar virtues, these are
now tied to the precepts of righteous living, not
for one’s self, but for the sake of the kingdom of
God, for one’s neighbor and for an eternal reward.
While some Christian denominations have melded
the natural ascetic with this form of asceticism,
the detachment from society is not in line with the
Christian commission to reach the lost while living
in harmony among men.
Max Weber makes this very important
distinction in the use of the term. He differentiates
between inner-worldly and outer-worldly asceticism,
with the latter referring to the monastic orders that
8
live separately from the world while the former
refers to those who chose such a lifestyle within
the world. These inner-worldly ascetics, as Weber
characterized, have particular traits which befit
both variations, but are carried out within their
communities and the society at large.
Over time, scholars have developed different
scales depicting these ascetics, but the following
characteristics are the most common:
■■ Inner-Worldliness is Weber’s innerweltlich
entrepreneur, meaning an involvement within
the world, society or the community in contrast
to the outer-worldliness of the ascetic monks.
■■Stewardship or Thrift or Frugality underlines the
concept of properly managing God’s resources
with a sense of accountability. Weber stated
it clearly: “Man is only a trustee of the goods
which have come to him through God’s grace.
He must, like the servant of the parable, give
an account of every penny entrusted to him.”
Frugality is to refrain from spending on one’s
self beyond what is necessary.
■■ Hard work or industriousness simply refers to
an almost compulsive practice of long hours,
seven-day work week, little or no vacation,
often working long past retirement age, yet
always conscious of being productive.
■■Use of time underlines the entrepreneur’s
constant focus on efficiency in not just his
own work, but also that of others, ‘redeeming
the time’ as stated by the Apostle Paul in the
book of Ephesians.
■■Honesty or character is the practice of high
standards of integrity in all circumstances
– including one’s personal life. It is selfdiscipline,
but with a moral quality.
9
■■ Internal locus of control refers the person’s
motivation from within and not needing outside
factors to move ahead. It is often referred
to as autonomy. Inner-worldly ascetics are
independent-minded, intrinsically motivated
individuals.
■■Generosity is best represented by the
individual’s philanthropy or at least by a sense
of charity. Weber’s stance is that ascetics do
not build wealth for themselves, but rather for
others, even if it just for family, but most often
for the community.
■■Calling or Vocation (Beruf in German), is
key to Weber’s description of the ascetic. It
is a reference to the entrepreneur’s vision
that what one is doing is in response to
vocational mission of serving others beyond
one’s self through one’s work; the venture is
a mission. In his essay, Weber discusses at
length the difference between Martin Luther’s
understanding of calling in comparison to John
Calvin’s view of vocation, though for Englishspeakers
we could use them interchangeably,
but they are important in light of what motivates
the ascetic entrepreneur.
Obviously, individuals fare differently within
these scales, but what this study reveals is that
there is an amazing number of company founders
who meet this standard of inner-worldly asceticism.
A more thorough review of Max Weber’s Protestant
Work Ethic therefore is warranted before establishing
the link between asceticism and entrepreneurship.
10
11
III. The Protestant Ethic
In The Protestant Work Ethic
and the Spirit of Capitalism, Max
Weber lays out with much clarity
and precision the characteristics
and work ethics of the ascetic
entrepreneur. His assertions are
based on the contributions of the
Calvinistic approach to one’s life; specifically one’s
calling to live a within-the-world or worldly ascetic
lifestyle motivated with the desire to meet the
predestined aspirations God has set on his people.
He pointed to the lives of the Huguenots, Pietists,
Puritans and Methodists as well as the writings of
Benjamin Franklin to describe this very new way
of carrying out one’s business. While he probably
missed the nuanced sarcasm of Franklin, he found
elements of truth in his descriptions of the working
life in early America.
Weber believed that this approach to life in
general, and to business in particular, caused an
acceleration of the capitalist revolution beginning
in the eighteenth century and throughout the
nineteenth century. To clarify, Weber explained
that until the advent of Protestantism, business
people were generally content to work at levels that
met their needs, but not beyond. If they did have
a particularly fruitful season, they did not reinvest
their profits into their business, but rather spent it
fairly rapidly.
There was no interest in growth for the
bourgeois mercantilist, other than one to satisfy
his present needs. In general, merchants would
work five to six hours per day with little incentive
to expand. The Calvinist view changed that. Now,
some businesspeople began to work harder than
was necessary, to save and reinvest their profits, to
grow and expand their enterprise in an attempt to
prove that they are among the predestined chosen.
Success was a sign of acceptance by God.
12
This perspective allowed the range of
production to reach far beyond the traditional limits
of need or a common standard of moral behavior,
because one had to work harder and be productive,
never satisfied with the status quo. In order to
maintain this crescendo of production, one had to
live frugally and with restraint so as not to impede
this development toward their salvation. As Keith
Roberts points out in discussing Weber’s sacrificial
rhetoric, “The Protestant form of asceticism tended
to minimize consumption at the same time that it
maximized production.”
From an economic perspective, this formula
had a better chance of creating wealth than the
system in place. As Protestantism grew, so did this
manner in which to conduct business. This desire
– or calling – to be productive brought on attempts
to innovate, reduce costs and increase productivity.
Combining this with a disdain for consumption and
material wealth left these entrepreneurs with no
other option but to reinvest and keep working hard.
Weber holds that the ascetic entrepreneur is
not building this wealth for himself, but for others,
not seeking profits for his own enjoyment, but out
of an irrational calling to be productive beyond what
is necessary and to serve a cause greater than
himself. Weber summarizes,
He gets nothing out of his wealth for his
own person other than the irrational sense
of fulfilling his vocation.
His view turned the image of the capitalist
held by Karl Marx and other authors of his time
completely on its head. In fact, Weber points out
that money-making as a vocation runs counter to
“the moral feeling of entire eras.” Weber therefore
describes the ascetic entrepreneur as one who is
or would be fully predisposed to sacrifice personally
for the benefit of the entrepreneurial endeavor.
Roberts continues: “Hence asceticism, despite its
roots in a magical worldview, serves as a mediating
13
factor between traditional (sacrificing) and modern
(economics). Asceticism is thereby able to change
values – forward-looking in its sacrificial past,
backward-facing in the present until it adapts
completely to modern economic processes.” In a
very unique way, Weber exposed virtuous elements
of religiosity as the catalyst for capitalist practices.
Since Weber, there have surprisingly few
scholars tackling the topic of asceticism. Among
these, psychologist David McClelland, in his seminal
work The Achieving Society (1961), built further on
Weber’s reasoning by pointing to the new norms
and values prevailing in society brought on by this
new ethic which caused the economic development
that we see today. He focused on individuals’ need
for achievement being tied to a nation’s economic
standing. To McClelland, as with Weber, the driven
ascetic entrepreneur was the medium for economic
growth.
Weber’s essay was considered by some
as “the most important sociological work of the
twentieth century” (Daniel Bell, 1976). It was bold,
daring and stimulating, and most of all, has survived
to this day with continued interest.
14
15
IV. Ascetic Entrepreneurship
Dalton State University professor, Harold
Jones, whose paper outlining the Ascetic Construct
holds that the character traits of the ascetic leader
are predictive of increased ethical awareness
and accountability. This will reduce uncertainty
on the part of the customers and investors, thus
increasing the probability of economic success of
the organization of which this leader is part. He tied
his premise in with Weber’s thesis and McClelland’s
theory, but also with Stephen Covey’s “character
ethic” outlined in his popular book, Principle-
Centered Leadership (1992).
The immensely popular book by Jim Collins,
Good to Great: Why Some Companies Make the
Leap… and Others Don’t (2001), pointed to the
Level 5 Leader, the executive, whose genuine and
authentic humility blends with a strong professional
will. In further expansion of this concept, Collins
identifies this leader as one who is self-effaced,
modest, mild-mannered and even shy. Collins’
extensive research in leadership of turnaround
companies leads invariability to this kind of leader,
one that matches up very well with Weber’s ascetics.
Also, Adam Grant’s very popular book, Give
and Take: Why Helping Others Drives Our Success
(2013), gives further evidence that between what
he refers to as takers, matchers and givers, the
latter reflect a form of asceticism, much along the
lines of Weber’s inner-worldly entrepreneur. Grant’s
concept of the “pay it forward” characteristic of the
givers is remarkably close to that of the “calling” of
the Weberian ascetic.
Ulrich Blum and Leonard Dudley (2001)
provide an in-depth analysis of Weber’s proposition
with an interesting slant. They identify, rather, the
Protestant reluctance to break contracts as the key
determinant in the growth of stable and long-term
viable exchanges among growing businesses. This
view reinforces the ethical posture of the ascetic
construct.
16
Another important link for our proposition
is Patricia Carr’s study (2003), which connects
the Protestant Ethic with an ethical enterprise.
She makes the key argument that the ethical
considerations of how a small business behaves are
an extension of the values ascribed by asceticism,
and that by its nature is ethical. Carr’s approach
has brought new light to the prevailing discussion of
the socially responsible activities of the firm.
By making the firm an intrinsically ethical
enterprise, this has shifted the discussion not on
how to infuse ethics into firms, but rather how
to preserve the ethical nature of firms. This, of
course, fits very well with Weber’s understanding
of the social role taken by ascetic entrepreneurs in
shaping the ethics leading to profitable companies.
This connection is also made in a volume
of papers compiled by Leo-Paul Dana in a book
entitled Entrepreneurship and Religion (2010).
In connecting religion to entrepreneurship, Dana
laced the emphasis on how values and culture
shape the entrepreneurial event, underlining the
importance of context in the entrepreneurial event.
Asking the question of whether prevailing religious
beliefs are explanatory variables for a propensity
for entrepreneurship, his findings indicate a causal
relationship between the two. More specifically,
“religions teach, promote and propagate cultural
value systems within a given society. Value
orientations in turn affect propensity toward
entrepreneurial activity.”
David Miller and Timothy Ewest (2010) argue
that the recent emergence of scholarly interest in
the connections of religion with the workplace point
to a new acceptance of Weber’s premise that ties
religion with economic growth. The advent of many
works on spirituality in the workplace also point to
an important correlation between religious motives
and the work environment. Therefore, these studies
indicate a very strong correlation between the
values and context of religion and the aspirations
and orientations of the entrepreneurial spirit.
17
The question of whether Max Weber’s
Protestant Ethic and these ascetic qualities can
be contextualized is unavoidable. The use of the
term “Protestant” would cause one to think that
this dimension is limited to the Western World and
the sphere of influence of Protestant Christianity.
Not so. Numerous studies of Weber’s argument
demonstrate that ascetic entrepreneurship extends
across many cultures, industries and social strata
today. Arguments could be made that at the source,
the ethic began with a dose of Protestantism, which
today is often no longer recognized.
Finally, the institutional dimension of context
is important as both Weber and Schumpeter limit
entrepreneurial activities within a capitalistic society,
where both economic freedom and religious freedom
are in place. Both of them were pessimistic about
the future of entrepreneurial capitalism, as the
system would inevitably create bureaucracies and
government involvement which will in turn stifle both
innovativeness and ethical behavior. Whether their
predictions were accurate would be a discussion for
another time.
It is too early to assert ascetic entrepreneurship
within the institutional context of
newly formed capitalistic societies (across Asia
specifically), however insights into “new”
entrepreneurs of firms such as HTC’s Cher
Wang (Taiwan) and Forever 21’s Do Won Chang
(South Korea) reveal a strong level of asceticism
in large successful companies. Some studies of
entrepreneurship even demonstrate how ascetic
Christianity has become a dynamic function of
business in China and Southeast Asia, most
interestingly as a new source of business morality.
To validate the connection between
Protestantism and economic prosperity, it might
suffice for us to point to an annual report regarding
corruption by country. It comes to us from
Transparency International, a non-profit coalition
18
against corruption. They regularly compile a
Corruption Index by country, based on multiple
factors such as bribery, breaching contracts, or
other unethical practices. Among the top 20 leastcorrupt
countries, 19 are nations with a primarily
Protestant religious and business heritage. That
does not necessarily mean that they are practicing
Protestants, but rather that they have a history of
Protestant faith as the foremost religious influence
in their personal and business dealings.
The only exception on 2014’s list is Japan,
ranked 17th (tied with the United States). No
one would dispute the point that corruption
adversely affects business and economic growth.
It is therefore clear that a link could be made
between Protestantism and a lack of corruption,
thus Protestantism and economic growth.
(This captivating report is available online at
www.transparency.org).
Success, when strictly defined in terms of
longevity, profitability and growth of ethical firms,
seemingly must “pass through” the standard of
asceticism (a mediating factor). Jones extrapolates
on Weber’s argument with logic holding that one’s
calling to manage God’s resources leads one to be
humble with a self-denial which leads to an austere
and self-disciplined lifestyle.
The results of such a way of living cause one
to work hard, to plan for the future by saving, and
to be charitable. Firms that are not disciplined
in their behavior or finances, that do not procure
for reinvestment in the firm, do not delay selfgratification
and generally do not work hard are less
likely to be successful than those that practice these
ascetic measures. Long-term success requires a
respective level of asceticism from its founders,
its managers and its workers in order to achieve
results.
Patricia Carr (2003) links asceticism with
ethics and enterprise:
19
Strong similarities are evident between
Weber’s emphasis on the centrality of a
particular type of individual for the possibility
of modern capitalism, and the suggestion
that the creation of the contemporary
market order is crucially dependent on the
behavior of enterprising individuals, i.e.
those individuals who possess and display
an ethic of enterprise through, for example,
the establishment and running of a small
business. Of particular importance here for
the establishment of a vibrant small business
sector is the existence of a certain type of
individual who actively subscribes to and
adopts an ethic of enterprise understood
as industriousness, ability, obedience,
discipline, responsibility, creativity, energy,
boldness, and opportunity-seeking.
What Carr is asserting is that a requirement
so crucial to the growth of the business sector
is the existence of the type of individual whose
ethics advance entrepreneurial development. This
individual must meet certain ethical standards in his
or her own lifestyle and decision-making, which can
then be sustained through his or her business. The
ethical characteristics of ascetics then meld into
the companies they founded, where the directors
and managers who follow them continue the ethical
practices they saw in the original founder. This
together contributes to a sustained successful
model of entrepreneurship.
Back to our original questions. How important
is the ascetic entrepreneur to the growth of value in
the marketplace? How many are out there? What
contributions have they made to the economic
landscape? The best way to answer this is to simply
give some examples in order to illustrate the impact
these entrepreneurs have had on the economy and
the society at large. This study focuses on seven
biographical case studies, and also to provides a
comprehensive list of company founders who not
only exemplified asceticism in their own life, but
who also developed a work ethic that permeated
their company culture and the community at large.
20
21
V. Case Studies
We’ve selected seven unique individuals from
a long list of ascetic entrepreneurs: four American
and three European. Why these seven? As
individuals, some are well-known, others are not, but
in all cases, the firms and brands they created are
currently world-renowned with sales all exceeding
at least $1 billion per year. The impact they have
had in their industry and the global economy is
unquestioned.
Central to our research will be replication logic,
which is the use of independent case studies that
can each serve as its own analytical unit. This
approach using historical case studies has two
purposes.
First, it tends to mitigate bias. The selection
criteria adopted for this study ensures that the
success of these individuals is well-documented,
because they created organizations that have
endured until today (some over 100 years), and
yet they have done so as ascetic entrepreneurs.
Second, the case-study approach is richer and
can be in greater depth than experimental studies,
thus is better suited for theory building which
could later maybe lead to further theory-testing
(Eisenhardt & Graebner 2007). Story-telling is
also more interesting to read than typical empirical
research. This adds to its managerial relevance
and appeals to a broader audience beyond scholars
in the field.
22
I know who to credit for this international
success story in business: the Lord Jesus
Christ. I’ve taken his principles and put
them into practice in the world of business
– nothing more, nothing less. I’ve been
praised for having a down-to-earth style.
My greatest claim to fame, however, is that
I know the One, who God, our Creator and
heavenly Father, sent down to this earth to
change the hearts of men and women and
to free them from sin’s bondage.
The most recognized brand in the world is
not disputed: it’s Coca-Cola. It has been for much
of the 20th century and now into the 21st century.
What is not well-known about Coke is its founder,
Asa Candler, who, on his own, practically invented
brand marketing. He also served as mayor of the
city of Atlanta, bringing it out of the ashes of the
Civil War and a city-wide fire to become one of the
most vibrant cities in the world. What is even less
known is Candler’s asceticism and deeply rooted
religious convictions.
Candler was born in Villa Rica, Georgia, just
50 miles from Atlanta. His family farmed, but
he was drawn to the city where he worked as an
apprentice druggist. Quickly, with a partner, he
opened his own drug business. This was early in
1877. They prospered from the beginning and soon
were manufacturing a number of patent medicines
and cosmetic products.
Asa Candler (1851-1929)
Coca-Cola Company
23
In 1881, Candler bought out his partner, hanging
his shingle as Asa Candler and Company in front
of his 47 Peachtree Street store. He was starting
to make good money, and carefully reinvested all
of it back into the business. In 1888, for $2,300,
he bought the rights to the formula of a prescribed
beverage called Coca-Cola, which he sold in his
own drug store in downtown Atlanta.
Candler was an entrepreneur, who saw the
opportunity to develop a loyal following for his
beverage. The Coca-Cola Company was chartered
in the state of Georgia in 1892 with capital stock
of $100,000, most of the shares in Candler’s
name. He grew the company quickly and did so
by developing a revolutionary distribution system
and a very aggressive marketing campaign. By
1897, Coca-Cola had become, as Candler put it,
“the article, par excellence, for the health and good
feeling of all the people.”
By 1916, Coca-Cola, with its secret formula
and ingredients, helped the company rise to a
rank of 212 on the list of the largest U.S. industrial
enterprises. At first seen as a healthy tonic, the
beverage became the first soft drink for its refreshing
and tasteful attributes. Candler was not just on the
leading edge of brand marketing, but also in terms
of trademark protection as a business practice.
He vigorously defended his brand name, logo and
image.
Once Coca-Cola took off, Candler smartly
reinvested his wealth in real estate and banking.
Many of the buildings in downtown Atlanta and
much of the suburb of Druid Hills were owned by
Candler. He built the site of today’s world’s-busiest
airport and built the infrastructure that helped
Atlanta grow exponentially over the years. Candler
was actively involved in the financing of the growth
of the city of Atlanta. He also was the primary
owner of the Central Bank and Trust Company,
24
a perfect conduit for his complicated investments.
His bank later merged with Citizens and Southern
Bank, which then became NationsBank and is now
Bank of America.
Candler was also involved in the community
to the point that he was voted in as Mayor of
Atlanta in 1917, where during his term the city grew
into the capital of the South. He was member
of almost every civic, charitable and community
group in the city. As a devout Methodist, Candler
was very generous in his giving to church causes
since the beginning of his company. He supported
prohibition and fought vice in Atlanta and beyond.
He was close to his brother, Warren, who became a
bishop in the Southern Methodist church. Candler
devoted most of his career, not as much to build his
company, which his family turned over to others,
but to help build Emory University from the ground
up – a Christian college originally dedicated to
developing leaders in the church. The land where
Emory stands today was owned by Candler. Most of
the buildings and the University’s research hospital
were paid for by Candler – and all of the estates of
his family are now part of Emory.
Candler died of a stroke in 1929. He will
however be remembered in business circles as the
master of advertising and distribution, in the city
of Atlanta as the town’s first and most important
entrepreneur, and in academia, as the funder of one
of the world’s leading institutions, Emory University.
25
And our task is not yet finished; we
intend to intensify our efforts. But what
has been achieved in the past serves to
strengthen my faith in the future and my
conviction that the fame of Rolex will prove
worthy of the position it has in the world.
The most iconic brand in the watch industry is
Rolex. The company history is unique, yet unknown
in most circles. The founder was Hans Wilsdorf.
He was born in Bavaria, Germany into a Protestant
family. At the age of 12, he became an orphan after
his parents both died a few months apart. Taken
under the guidance of his uncles, he was sent to
boarding school where he excelled in languages.
Wilsdorf soon went to Switzerland to train as
an apprentice in the watch industry in La Chauxde-
Fonds and in the pearl market in Geneva. After
completing his German military service, he moved
to London, England in 1903. There, he married a
British woman and later became a British citizen.
In 1905, with the financial support of his brother-inlaw,
Alfred Davis, he opened Wilsdorf & Davis, a
watch company which imported pendant and pocket
watches from Biel, Switzerland, and sold them
throughout the British Empire.
With the advent of World War I, due to
anti-German sentiments in England, Wilsdorf
moved the company to Biel, Switzerland, then to
Hans Wilsdorf (1881-1960)
Rolex
26
Geneva, naming it Rolex just because he thought
it was catchy. He was certainly an innovative
entrepreneur, and patented the wrist watch, as well
as waterproofing. Sales were steady and until the
Second World War, the company grew in size and
in reputation. During the war, Wilsdorf, expecting
an allied victory, and working with the Red Cross,
gave over 3,000 Rolex watches to British prisoners
of war who had been interned in German camps.
When his wife died in 1944, and with no
children to follow him in his business, Wilsdorf
made the decision, per his wife’s wishes, to set
up a foundation that would ensure the continued
success of his business while also supporting many
worthy causes. Today all of the profits of Rolex are
funnelled into the foundation (now the fourth largest
private foundation in the world), which is devoted
to helping causes from environmental research to
college scholarships. It is well-known in Geneva
that if you are in substantial debt and hold a job, the
Wilsdorf Foundation will grant you an interest-free
loan to get you back on your feet.
Wilsdorf continued to grow Rolex until his death
in 1960. He was a member of the English Church
of Geneva, where he arranged to have its clock
maintained in working order, sometimes by his own
hands. To this day, a Rolex employee services the
clock of the church every Wednesday (at no charge
to the church, of course).
Today, Rolex is the top manufacturer of luxury
watches in the world, and regularly ranks among
the most-respected companies worldwide. Rolex
is the largest private employer in Geneva and
is regularly ranked among the top European
companies to work for.
27
Work always and always in light of day.
Migros is the largest employer in Switzerland.
Though it has not expanded much beyond its
borders, Migros is an iconic brand in Switzerland.
Its founder, Gottlieb Duttweiler, developed a unique
ownership concept that has enriched nearly a third
of the Swiss population.
Duttweiler was born in Zurich to a typical
middle-class Protestant family. He began his
apprenticeship and worked for a number of years
for a general merchant in Zurich. After 10 years,
in 1917, he became a partner in the business. He
traveled extensively for the company, but it went
bankrupt in 1923. At this time, Duttweiler and
his wife, Adele, sold all of their belongings and
moved to Brazil to develop coffee plantations. This
experience only lasted one year, and due to the
difficult working conditions, the Duttweilers returned
to Zurich.
In 1925, upon his return to Switzerland,
Duttweiler founded Migros (meaning “halfwholesale”
in French), with the idea of cutting out
the middle man and delivering goods directly from
the manufacturers to the consumers using a fleet
of five trucks. He borrowed 100,000 Swiss francs
to launch his business. Despite strong opposition
from traditional merchants, he managed to grow the
venture.
Gottlieb Duttweiler
(1888-1962)
Migros
28
In fact, Duttweiler moved the primary activities
of the business to Berlin, with an even larger fleet
of 45 trucks, delivering goods all over the country.
However, upon continued bureaucratic oppression
by the new Nazi government, Duttweiler closed his
German operation, giving away his merchandise
and fleet of trucks to unemployed people in Berlin.
Retrenched back in Switzerland, he still faced
constant backlash from the bourgeois newspapers
for his innovative and cost-cutting methods. He
decided to start his own newspaper, and he went
into politics to protect the rights both of business
and those of the consumers.
Even before World War II, Duttweiler tapped
into the growing economic prosperity of Switzerland
and expanded into many new ventures such as
bookstores (Ex-Libris), travel agencies (Hotelplan),
and later schools for adults (Ecole-Club Migros),
banks (Banque Migros), gas stations (Migrol) and
other leisure-oriented enterprises. In essence,
his low-margin, high-volume proposition worked
marvelously. He began manufacturing his own
products to sell in his expanding stores.
Duttweiler had some rigid principles of how his
business and its associates were to behave. He
and his wife, Adele, wrote The 15 Theses, basically
a credo by which the company was to perform.
He did not want Migros to ever open on Sundays,
nor to sell alcohol or tobacco. Associates were to
always put the customer first and to always behave
as an “every-day Christian.”
In 1941, Duttweiler basically gave away his
business by replacing his private enterprise and
creating regional cooperative committees open to
the public administrated by a central committee,
the Federation of Migros Cooperatives. He no
longer owned shares in his business, which now
became property of its customers. Today, nearly 2
million people (out of the 7 million people living in
Switzerland) own shares in the cooperatives.
29
Duttweiler later gave away his private estate
along Lake Zurich to locate The Duttweiler
Foundation and the Gottlieb Duttweiler Institute,
a think tank devoted to economic research which
opened two years after his death. Duttweiler also
coined the term “social capital” so often used today.
He remained actively involved in politics, even
creating his own political party.
With revenues of $27.5 billion (2011), Migros
is one of the largest companies in Switzerland, its
largest retail business and largest employer. Migros
has been considered by scholars as an example of
a “swarm business” where all stakeholders have a
say-so in company decisions, and among leaders
of socially responsible entrepreneurs.
30
Discipline yourselves. Discipline is the
greatest thing in the world. Where there
is no discipline, there is no character. And
without character, there is no progress.
Marriott Corporation is known throughout
the world for its hotels, restaurants and service
companies. It is the second largest company in
the hospitality industry. Its founder, John Willard
(J.W.) Marriott passed the company on to his sons,
Bill, who runs the hotel side of the business, and
Richard, who manages the foodservice segment,
both now separate companies.
J.W. Marriott, Sr. was born in 1900 in Ogden,
Utah, the son of a Mormon farmer. At a young
age, J.W. (called Bill) herded sheep to the market
and tended the family farm. As a practicing
Mormon, he served his 2-year mission in New
England. Upon his return to Utah, he graduated
from college, married Alice Sheets, the daughter of
a U.S. congressman, and in May, 1927 moved to
Washington D.C. to open an A&W Root Beer Stand
with a $1,500 investment.
Immediately, their venture succeeded. They
soon opened a restaurant called Hot Shoppe. They
rapidly opened multiple locations and the chain
became a very popular destination for the growing
district population. Their business expanded after
World War II to include in-flight food service and
institutional catering. In 1957, they opened their
J.W. Marriott (1900-1985)
Marriott International
31
first hotel, the Marriott Twin Bridges in Washington
D.C. Success was instantaneous, and they opened
more hotels, realizing that the market was ripe for
mid-priced hotels for traveling businessmen.
As the company grew, Bill added Big Boy and
Roy Rogers restaurants to its portfolio and continued
to build hotels around the world. Before his passing
in 1985, the company shed its restaurants and
focused solely on its hotels and catering services.
Later, the company acquired a number of hotel
chains, such as Renaissance, Ritz-Carlton and
Bulgari to become the world’s second largest
hotelier with 700,000 rooms in 4,000 properties.
The Marriotts stayed close to their Mormon
heritage. Bill served as a leader in the church
and their best friends were fellow Latter-Day
Saints, some of them prominent, such as Michigan
Governor George Romney and U.S. Senator Smoot
of Utah. Since 1964, Marriott International has
been run by J.W. Jr. (also known as Bill) following
the same standards of work set forth by his father.
The Marriotts have contributed substantially to
Brigham Young University and many other colleges
and charities worldwide.
32
If we work together, we’ll lower the
cost of living for everyone…we’ll give the
world an opportunity to see what it’s like to
save and have a better life.
Images of Sam Walton in his Walmart cap
driving an old pick-up truck to work every day
conjures memories for many in small Bentonville,
Arkansas. Not very many would have dared to
predict that this man would become America’s
wealthiest and his company the world’s largest.
Samuel Walton was born in Kingfisher,
Oklahoma in March, 1918. His family did not live
there long. His father, Thomas, worked at different
locations as he sold life insurance for Sam’s uncle.
They ended up in Columbia, Missouri, where Sam
graduated from high school and went on to attend
the University of Missouri where he earned a degree
in Economics in 1940.
He was always a leader. In high school, he
was president of the student body, quarterback on
the undefeated football team and was active in just
about every organization at the school. To finance
his tuition, he sold newspaper ads around town and
worked as a lifeguard at the municipal pool. His
work allowed him to be a part of most businesses
and organizations in the city and on campus.
Upon graduation, he accepted a position as
management trainee with J.C. Penney in Iowa with
a salary of $85 per month, but it was short-lived as
Sam Walton (1918-1992)
Walmart
33
he was called up to serve in the war. Sam rejoined
his family at the end of war in June, 1945.
Within weeks of returning to Oklahoma,
the Waltons moved to Newport, Arkansas. An
opportunity had opened up for them to purchase a
Ben Franklin discount store franchise. It succeeded,
but a problem over the lease forced them to move.
They decided on Bentonville on the other side of the
state from Newport, but closer to his wife’s family
in Claremore, Oklahoma. After much negotiating,
and with the help of his father-in-law, he purchased
a store on the square for $55,000 using all of his
savings gained in Newport. On July 29, 1950,
Walton’s Five and Dime opened for business.
The store in Bentonville was an instant success,
and quickly they added stores in northern Arkansas
and even up to Kansas City. Within 10 years, Sam,
an amateur pilot, was flying from store to store all
over Arkansas, Missouri, Kansas, and Oklahoma.
He had four children living in a comfortable, but
modest home. He went hunting when he was not
involved in the local Rotary Club or teaching Sunday
School at the local Presbyterian Church.
In 1962, Walton created the name
Wal-Mart. He also opened his first large surface
retail location in Rogers, Arkansas and the second
one in Harrison, Arkansas. Both were instantly
profitable, and with the help of bankers all around the
South, he opened store after store with distribution
centers strategically located to supply the stores.
Walton died of cancer in 1992.
His children have continued to be a part of the
business, though none as CEO. The company has
since grown to become the largest corporation in
history with sales of $473 billion in 2014 with more
than 2 million employees.
Sam Walton was innovative in many ways.
First, when he first created Walmart, he set the
ownership to be only 20% for him and Helen, and
34
20% for each of their children. This arrangement
ended up protecting the future of business in many
ways, and allowed the formation of the Walton
Family Foundations, which is today one of the most
active charitable organizations in the world.
Second, his management style was unique.
Mr. Sam, as he was called, was always in stores
shaking everyone’s hand, organizing cheering
sessions and talking to the associates. A strong
employee loyalty developed, especially after the
company went public in 1970, when all employees
were offered a very generous stock option plan still
in vigor today.
Third, his inventory and supply chain
management has allowed Walmart to always be
well-stocked without going out of control, a system
that has proved revolutionary and so efficient that it
is now in place at almost all retailers. His vision has
seemingly come to pass as Walmart has a proven
track record of driving down inflation in countries
around the globe – especially the United States.
35
Our ambition to develop ourselves as
human beings and coworkers must remain
high. Humbleness is the key word. Being
humble means so much to us in our work
and in our leisure. It is even decisive for
us as human beings. It means not just
consideration and respect for our fellow
men and women, but also kindness and
generosity. Will power and strength
without humbleness often lead to conflict.
Together with humbleness, will power
and strength are your secret weapons for
development as an individual and fellow
human being.
The founder of the furniture retailer, IKEA,
Ingvar Kamprad has created one of the largest retail
empires in the world. He is the wealthiest Swede,
but also, until 2013, the wealthiest man to live in
Switzerland, where he had resided since 1976. He
also set up the largest private foundation in the
world, the Stichting INGKA Foundation.
Kamprad was born on a farm in southern
Sweden. At an early age, he started selling matches
using his bicycle. He quickly learned that he could
buy the matches in bulk in Stockholm, sell them
at a lower price and yet make more profit. His life
on the farm taught him the value of time and hard
work, but it was not enough for him.
His entrepreneurial spirit quickly led him to
adding holiday items, pens, pencils and even fish.
By the age of 17, he was self-sufficient and had
Ingvar Kamprad (1926- )
IKEA
36
enough funds to incorporate his business, which he
named IKEA after his initials and the first letters of
the family farm and closest village. He diversified
even more and started selling furniture and other
items using a mail-order system, where he himself
delivered the goods.
In 1951, because furniture was vastly
outselling his other products, he decided to focus
just on these items and built relationships with local
manufacturers in order to keep costs down. In
1953, he opened his first showroom, innovative in
the fact that customers were allowed to circulate
among and touch the items for sale. He faced fierce
competition, and ended up designing his furniture
in-house and discovered a new way to pack the
furniture to reduce damage and space: the flat box.
Over the next several years, IKEA continued
to grow until in 1976 Swedish tax laws required
Kamprad to make some changes. First, he moved
to Epalinges, Switzerland, not only because taxes
were less invasive, but also to stay out of the
limelight. Second, he formed a private foundation
based in the Netherlands, where all of the firm’s
shares would go to be redistributed into a holding
company, a trust and numerous charities. This
new organizational structure has enabled IKEA to
continue to grow privately with little interference.
A practicing Lutheran, Ingvar Kamprad is a
very private man, rarely accepting to be interviewed.
Like the company he has created, he is frugal,
hard-working and creative. About his life, he has
written a short pamphlet, entitled: “The Testament
of a Furniture Dealer”, which is simply a set of
dictums of best practices for IKEA employees that
he put together in the pivotal year of change in his
life; 1976. It is a set of 9 basic tenets based on
the theme and credo of IKEA: “To create a better
everyday life for the many people.”
Kamprad has been married twice, with one
adopted daughter from the first marriage and three
sons from the second. His second wife, Margaret,
37
passed away in 2011. His three sons are all involved
in the business, and since May 2014, Kamprad
is no longer involved in any of the company’s
activities, although he still takes an active part in
the foundation’s projects. He has moved back to
his farm in Sweden after being away for 40 years.
38
Nearly every moment of every day
we have the opportunity to give something
to someone else—our time, our love, our
resources. I have always found more joy
in giving when I did not expect anything in
return.
Who has not enjoyed a chicken sandwich at
Chick-Fil-A? The sandwich is only part of the
experience. You will be greeted with a smile,
served promptly, and told “my pleasure” over and
over. The success of Chick-Fil-A is no accident.
Truett Cathy was brought up in the projects
in downtown Atlanta. At age 8, he started selling
Coca-Colas to workers around town as well as
delivering newspapers. After serving in the Army
during the Second World War, he married and had
three children. In 1946, with his brother Ben, he
opened a small diner in Hapeville, Georgia near
the Atlanta airport. The Dwarf Grill was opened
twenty-four hours per day serving everything from
hamburgers to scrambled eggs. There, Truett
and Ben created a simple sandwich with a filet of
chicken, pickles and mayonnaise on a hamburger
bun.
They had no idea at the time that this simple
recipe would help them grow and expand their
business. In 1967, they opened the first Chick-
Fil-A in Greenbrier Mall in nearby East Point. First
focusing on malls, then on free-standing locations,
Truett Cathy (1921-2014)
Chick-Fil-A
39
Chick-Fil-A rapidly grew to become a recognized
fast-food retailer in the southern United States, and
now in 46 states.
Characterized by the fact that they close on
Sundays to allow employees to rest and worship,
Chick-Fil-A has stood as one of the best companies
for which to work. The company offers college
scholarships to deserving high school workers,
sponsors numerous charity events and holds camps
for young boys and girls.
In 2012, controversial statements regarding
same-sex marriage by COO (and Truett’s son) Dan
Cathy brought Chick-Fil-A into the news, and the
company’s Christian philosophy moved to the front
page. Overwhelming community support further
reinforced Chick-fil-A’s mission of providing quality
service and products while promoting Christian
values.
Today, with over 1,900 locations, the company
boasts sales of nearly $6 billion in 2014. Its
franchise policy is the least costly in the business
(only $5,000), but the company is very particular
who is awarded a franchise. Candidates to work
at company headquarters in Atlanta may be
interviewed more than 15 times before being hired.
Chick-Fil-A employs primarily Christians who share
the vision of the founder.
40
A Short List of American Ascetic Entrepreneurs
■■ Phil Anschutz
.AEG Entertainment
The owner of countless venues and stadiums,
the owner of the Los Angeles Galaxy, Kings
and Lakers, built his empire in petroleum fields
in Colorado and contributes heavily to medical
research and the Christian movie industry.
■■ Mary Kay Ash
.Mary Kay Cosmetics
With 3 million consultants worldwide, Mary
Kay is recognized as the business that has the
most empowered women.
■■ Florence Butt
.HEB Grocery Stores
One of the largest privately-held companies in
North America, the retail chain enjoys success
in Texas and Mexico with sales of over $20
billion.
■■ William Cargill
.Cargill Agricultural Products
The largest privately-held corporation in the
US gives away over $50 million every year to
educate farmers in underdeveloped nations on
nutrition and saving the environment.
■■ William Colgate
.Colgate-Palmolive
.Consumer Products
An Englishman who came to New York to make
soap transformed an industry and created a
new philosophy of philanthropy, including the
founding of the college that bears his name.
41
■■ Henry Parsons Corwell
.Quaker Oats Cereals
A marketing and merchandising innovator,
Cromwell brought oatmeal to the breakfast
table, as well as the Moody Institute in Chicago.
■■ David Green
.Hobby Lobby Stores
The largest chain of arts and crafts retail stores,
Hobby Lobby is best known for its stance
against the Affordable Care Act’s requirement
for employers to support abortion.
■■ H.J. Heinz
.Heinz Foods
Heinz, the manufacturer of the top brand in
over 150 food products, does not just make
ketchup, but also is best known for its innovative
Christian management practices.
■■ James Kraft
.Kraft Foods
With 25% of its profits going to charity since
day one, Kraft Foods has prospered and
now joined with Heinz is the fifth largest food
company in the world.
■■ H.G. LeTourneau
.LeTourneau Earthmoving Equipment
Tunnels and roads all over the U.S. have
been built by LeTourneau helping Caterpillar
become what it is today. He also founded a
university in Longview, Texas.
■■ Cyrus McCormick
.International Harvester (now Navistar Harvester)
The inventor of the carriage reaper founded
a company which has produced more tractors
than any other while devoting energies to help
farmers succeed worldwide.
42
■■ Norm Miller
.Interstate Batteries
Awarded the honesty and integrity award
in business, Interstate Batteries has grown
beyond NASCAR to become a leader in
renewable energy research.
■■ Herman Miller
.Herman Miller Furniture
A regular on the list of Best Companies to Work
For, and led by Max Dupree today, Herman
Miller is a leader in environmental philanthropy.
■■ Tom Monaghan
.Domino’s Pizza
The top pizza company in the U.S. also has
built Ave Maria, a catholic city and college in
south Florida.
■■ James Cash Penney
.J.C. Penney’s Stores
An innovative manager and salesman, J.C.
Penney transformed the retail business and
philanthropy endeavors, as well as founded
the University of Miami.
■■ George Pepperdine
.Western Auto
Capitalizing on the boom for auto parts in the
1920s, Pepperdine built an empire of over
1,200 stores and 4,000 franchises before
selling out and devoting all energies to the
creation of Pepperdine University in California.
Upon his passing, he had an empty bank
account, but he said “faith is my fortune”, the
name given to his biography.
43
■■ Bo Pilgrim
.Pilgrim’s Pride Chicken
Behind Tyson Foods, the second largest chicken
producer in the U.S., Bo has influenced many
politicians to support Christian enterprises.
■■ John D. Rockefeller
.Standard Oil
The pioneer industrialist founder of what
became ExxonMobil and Chevron is better
known as the most charitable American with
gifts of over $500 million (worth billions today)
to build schools, hospitals and churches.
■■ Anthony Rossi
.Tropicana Products
The largest orange juice producer in the
world is also the largest supporter of Christian
mission work in the world.
■■ Stanley Tan
.U.S. Plastics
Pioneer in the recycling business, Rubbermaid’s
visionary, Tam created the first company to
legally belong to God.
■■ Marion Wade
.Service Master Cleaning
.Services
Mother company of Terminix, Merry Maids,
American Shield and TruGreen, Service
Master is one the top franchise companies in
the U.S. today.
44
We could expand even more if we were to
discuss other companies run by Christian principles
including HTC, Forever 21, Aldi, Victorinox,
Cadbury, In-N-Out Burgers, Alaska Airlines, Tyson
Foods, Jet Blue, Trijicon, Curves, Tom’s of Maine,
Whole Foods, E-Harmony, Covenant Transport,
Jack-in- the-Box, Carl’s Jr., Laderach, Glencore,
Fuqua Industries, and on and on. There remains
no doubt that ascetic entrepreneurs have been
around for some time and are still at work in today’s
economy.
45
V. Was Weber Right?
We have defined the entrepreneur and
asceticism, we have discussed the convergence of
the ascetic entrepreneur, and we have illustrated
this concept with real live examples. Now, the
question still remains: does Weber’s argument hold
water or does it need to be scratched, or will a slight
revision suffice?
The critics of Weber’s proposition will counterargue
that many successful entrepreneurs are
not ascetic; that Protestants often live hedonistic
and self-absorbed lifestyles; that this was a
misinterpretation of the times; that, with church
attendance down, the age of the Protestant Ethic
has passed; that other factors contributed in more
important ways. Without addressing all of these
points, it is worth reminding of the conclusion we
made earlier in comparing an ascetic entrepreneur
with his counterpart on the spectrum.
Common sense tells us that financial prudence,
hard work, ethical practices and generosity will
always outperform lavish spending, laziness,
dishonesty and greed. We’ve demonstrated that
the former practices are asceticism at work. The
question, though, remains of whether this asceticism
is based on the set of religious values as described
by Max Weber. Did Calvinist Protestantism bring
about these changes or was it something else?
This is where we contend that maybe Weber’s
argument needs to be revised slightly. Yes, this
ascetic work ethic developed greatly due to the
teachings of reformers beginning in the sixteenth
century. However, they found these concepts in
the Bible. They did not come up with them from
their own theology, but rather were very simply
putting into practice teachings which aroused from
Scripture. Truly, the scarce availability of the Bible
prior to the reformation and a readership limited
to Catholic priests whose interests did not lie in
46
economic expansion have contributed to the nondissemination
of certain teachings found in the
Bible.
Is it possible that with the larger availability
of biblical texts and the increased number of
readers among laymen (not to mention the advent
of the printing press), reformed Christians realized
that the teachings of the Bible point to an innerworldly
asceticism and work ethic that has its roots
not in the teachings of Calvin and Luther, but in
those of Jesus and Paul? Maybe we’re not talking
about the Protestant Ethic, but rather a Christian
Ethic?
Without entering into a lengthy theological
treatise on what this ethic represents, it is probably
more suitable to simply conclude this study with a
set of Bible verses which demonstrate the foundation
for the argument that the practice of Christian
principles are at the root of ascetic entrepreneurship.
It is now up to the reader to determine its validity.
(From the New International Version)
■■ In all toil there is profit, but mere talk tends
only to poverty.
– Proverbs 14:23
■■ Commit your work to the Lord, and your
plans will be established.
– Proverbs 16:3
■■ Whatever your hand finds to do, do it with all
your might.
– Ecclesiastes 9:10
■■ Beware of practicing your righteousness
before other people in order to be seen by
them, for then you will have no reward from
your Father who is in heaven. Thus, when
you give to the needy, sound no trumpet
before you, as the hypocrites do in the synagogues
and in the streets, that they may be
47
praised by others. Truly, I say to you, they
have received their reward. But when you
give to the needy, do not let your left hand
know what your right hand is doing, so that
your giving may be in secret. And your Father
who sees in secret will reward you.
– Matthew 6:1-4
■■ Do not lay up for yourselves treasures on
earth, where moth and rust destroy and
where thieves break in and steal, but lay up
for yourselves treasures in heaven, where
neither moth nor rust destroys and where
thieves do not break in and steal. For where
your treasure is, there your heart will be also.
– Matthew 6:19-21
■■ For it will be like a man going on a journey,
who called his servants and entrusted
to them his property. To one he gave
five talents, to another two, to another one, to
each according to his ability. Then he went
away. He who had received the five talents
went at once and traded with them, and he
made five talents more. So also he who had
the two talents made two talents more. But
he who had received the one talent went
and dug in the ground and hid his master’s
money.
Now after a long time the master of those
servants came and settled accounts with
them. And he who had received the five
talents came forward, bringing five talents
more, saying, “Master, you delivered to me
five talents; here I have made five talents
more.” His master said to him, “Well done,
good and faithful servant. You have been
faithful over a little; I will set you over much.
Enter into the joy of your master.”
And he also who had the two talents came
forward, saying, “Master, you delivered to
me two talents; here I have made two talents
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more.” His master said to him, “Well done,
good and faithful servant. You have been
faithful over a little; I will set you over much.
Enter into the joy of your master.”
He also who had received the one talent
came forward, saying, “Master, I knew you
to be a hard man, reaping where you did
not sow, and gathering where you scattered
no seed, so I was afraid, and I went and
hid your talent in the ground. Here you have
what is yours.”
But his master answered him, “You wicked
and slothful servant! You knew that I reap
where I have not sown and gather where I
scattered no seed? Then you ought to have
invested my money with the bankers, and
at my coming I should have received what
was my own with interest. So take the talent
from him and give it to him who has the ten
talents.
For to everyone who has will more be given,
and he will have an abundance. But from the
one who has not, even what he has will be
taken away. And cast the worthless servant
into the outer darkness. In that place there
will be weeping and gnashing of teeth.”
– Matthew 15:14-30
■■ In all things I have shown you that by working
hard in this way we must help the weak and
remember the words of the Lord Jesus, how
he himself said, “It is more blessed to give
than to receive.”
– Acts 20:35
■■ But by the grace of God I am what I am, and
his grace toward me was not in vain. On the
contrary, I worked harder than any of them,
though it was not I, but the grace of God that
is with me.
– 1 Corinthians 15:10
49
■■ Him we proclaim, warning everyone and
teaching everyone with all wisdom, that we
may present everyone mature in Christ. For
this I toil, struggling with all his energy that
he powerfully works within me.
– Colossians 1:28-29
■■ Therefore, my beloved, as you have always
obeyed, so now, not only as in my presence
but much more in my absence, work out your
own salvation with fear and trembling, for it
is God who works in you, both to will and to
work for his good pleasure.
– Philippians 2:12-13
■■ Whatever you do, work heartily, as for the
Lord and not for men, knowing that from the
Lord you will receive the inheritance as your
reward. You are serving the Lord Christ. For
the wrongdoer will be paid back for the wrong
he has done, and there is no partiality.
– Colossians 3:23-25
■■ Now we command you, brothers, in the name
of our Lord Jesus Christ, that you keep away
from any brother who is walking in idleness
and not in accord with the tradition that you
received from us. For you yourselves know
how you ought to imitate us, because we
were not idle when we were with you, nor did
we eat anyone’s bread without paying for it,
but with toil and labor we worked night and
day, that we might not be a burden to any
of you.
It was not because we do not have that right,
but to give you in ourselves an example to
imitate. For even when we were with you,
we would give you this command: If anyone
is not willing to work, let him not eat. For we
hear that some among you walk in idleness,
not busy at work, but busybodies.
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Now such persons we command and
encourage in the Lord Jesus Christ to do
their work quietly and to earn their own living.
– 2 Thessalonians 3:6-12
■■ Let the thief no longer steal, but rather let
him labor, doing honest work with his own
hands, so that he may have something to
share with anyone in need.
– Ephesians 4:28
■■ Bondservants, obey your earthly masters
with fear and trembling, with a sincere
heart, as you would Christ, not by the way
of eye-service, as people-pleasers, but as
bondservants of Christ, doing the will of God
from the heart, rendering service with a good
will as to the Lord and not to man, knowing
that whatever good anyone does, this he will
receive back from the Lord, whether he is a
bondservant or is free.
– Ephesians 6:7-8
■■ But if anyone does not provide for his
relatives, and especially for members of his
household, he has denied the faith and is
worse than an unbeliever.
– I Timothy 5:8
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VII. From the Author
This inquiry began by comparing the economic
contribution delivered by an ascetic entrepreneur
versus that of a more hedonistic and materialist
capitalist. While the evidence presented links
ascetic entrepreneurship with its formula of high
productivity combined with low consumption to the
exponential growth of economies in history, does it
explain the innovation and creative destruction that
today is transforming economies around the world?
Does this entrepreneur still exist?
It might seem that the imprint of Christianity
is waning in many parts of the developed world,
which would result in less and less asceticism in the
world of business. Yet, as pointed out in this essay,
ascetic Christian entrepreneurs are still rising out
of the maelstrom of the business world, providing
value with frugality, stewardship, industriousness
and generosity. Maybe the effect is shifting from
the Western World where secularism now rules the
day to emerging economies such as South Korea,
Taiwan, Brazil and China where Christianity is on
the rise.
Either way, it will be fascinating to observe
these developments through the lens of the Christian
Work Ethic, as new players around the world will
continue to respond to the calling of serving God
in the marketplace. In the end, it is evident that
Christian principles, when practiced in business,
help to not only create wealth and goodwill on this
earth, but also immeasurable treasures for eternity.
This monograph summarizes a couple of
years of intense research in order to complete a
doctorate at the Grenoble Business School in
France. Studying the lives of nearly one hundred
entrepreneurs spanning two centuries has been a
fascinating journey. Each day has been filled with
a discovery of how extraordinary individuals have
transformed the economic landscape for a greater
purpose beyond themselves.
52
I wish to thank Dr. Don Diffine of the Belden
Center for Private Enterprise Education at Harding
University for the opportunity and for encouraging
me through this process. I express gratitude for the
professional influence of my doctoral supervisors
Roxana Bobulescu and Vincent Mangematin in
Grenoble. I also must acknowledge the contribution
of my colleague Dr. Jake Stewart and the invaluable
editorial work by Belden staffers Brenda Davis and
Maci Handy. Finally, My wife Paige also gets credit
as a sounding board and constant cheerleader in
this enterprise.
Glory to God.
Searcy, December 2015.
53
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I would be true,
for there are those who trust me;
I would be pure,
for there are those who care;
I would be strong,
for there is much to suffer;
I would be brave,
for there is much to dare.
I would be friend of all—
the foe, the friendless;
I would be giving,
and forget the gift;
I would be humble,
for I know my weakness;
I would look up, and laugh,
and love, and lift.
Howard A. Walter, 1906
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ABOUT THE AUTHOR
David Kee is assistant professor of business
at the Paul R. Carter College of Business
Administration at Harding University, where he
teaches a variety of courses in management,
economics and entrepreneurship.
Professionally, Kee has owned and operated
businesses in Atlanta, Georgia, including Classic
Gourmet, an import/export company. He has
also sponsored pastry competitions worldwide,
published Pastry’s Best, a trade magazine, and has
consulted for various European companies in the
upscale food industry.
Kee earned his bachelor’s degree at Harding
University, his MBA at the University of West
Georgia, and has taught at Atlanta Christian
College, now Point University. His doctorate work is
with the Grenoble Ecole de Management in France.
His academic expertise is in the field of ethics and
entrepreneurship.
He has published in scholarly journals such
as Entrepreneurship Theory and Practice, and the
International Journal of Entrepreneurship and Small
Business. He has presented at conferences for
USASBE, the United States Association for Small
Business and Entrepreneurship, FERC, the Family
Enterprise Research Conference and FEE, the
Foundation for Economic Education.
Kee grew up in Geneva, Switzerland, speaks
multiple languages, and is a certified soccer and
volleyball coach. His wife, Paige, teaches in the
Communications and ESL departments at Harding
University. They have two chidren, Taylor, 24, an
economist living in Baltimore, Maryland, and Alyssa,
21, a marketing student at Harding University.